Negative Account balances in Other Financed Activities accounts

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jayinouye
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Negative Account balances in Other Financed Activities accounts

Postby jayinouye » Mon Feb 19, 2018 3:29 pm

What is the proper procedure for transferring funds into "Other Accounts - Other Accounts for Financed Activities such as YW's camp" that have overdrafts or negative balances? Where can the funds be taken from and put into these Other Accounts?

russellhltn
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Re: Negative Account balances in Other Financed Activities accounts

Postby russellhltn » Mon Feb 19, 2018 4:51 pm

The money comes from the budget. There's two ways of doing that. You can write a check and deposit it as a donation to "other", or you can re-classify some or part of an expense to come from budget.
Have you searched the Wiki?
Try using a Google search by adding "site:tech.lds.org/wiki" to the search criteria.

drepouille
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Re: Negative Account balances in Other Financed Activities accounts

Postby drepouille » Mon Feb 19, 2018 6:03 pm

I agree. Whenever I notice that we have accidentally over-spent an Other:AMFA subcategory, I find the expense (check) that caused the problem, and change the source of the funds for that expense to an appropriate budget category. In this case, YW camp expenses that exceed the funds collected by the fundraiser should come from the YW budget category.
Dana Repouille, Plattsmouth, Nebraska

jhardy355
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Re: Negative Account balances in Other Financed Activities accounts

Postby jhardy355 » Sun Feb 25, 2018 1:18 pm

I believe you can also just transfer funds from the budget category into the other category that has a negative balance to zero it out.

eblood66
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Re: Negative Account balances in Other Financed Activities accounts

Postby eblood66 » Sun Feb 25, 2018 5:09 pm

I don't believe you can directly transfer between major categories. But even if you can, I recommend editing an expense because it provides better tracking.


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